$180,000 Mortgage Payment
Monthly principal & interest by interest rate and loan term.
A $180,000 mortgage at 6.50% over 30 years costs about $1,138 a month in principal and interest, and $229,579 in interest over the life of the loan.
Early payments are mostly interest: in the first year only a small slice of each instalment reduces the balance. That is why a shorter term saves so much — the rate is similar, but the interest has far less time to compound.
Choosing a term
- $1,138 a month on a 30-year term, with $229,579 of interest paid in total.
- $1,342 a month on a 20-year term, with $142,087 of interest paid in total.
- $1,568 a month on a 15-year term, with $102,238 of interest paid in total.
- Property tax, homeowners insurance, PMI and HOA dues are not included — a common reason a real payment lands 20-30% above the figure shown here.
Monthly Payment by Rate & Term
| Interest Rate | 30 years | 20 years | 15 years |
|---|---|---|---|
| 5% | $966 | $1,188 | $1,423 |
| 5.5% | $1,022 | $1,238 | $1,471 |
| 6% | $1,079 | $1,290 | $1,519 |
| 6.5% | $1,138 | $1,342 | $1,568 |
| 7% | $1,198 | $1,396 | $1,618 |
| 7.5% | $1,259 | $1,450 | $1,669 |
| 8% | $1,321 | $1,506 | $1,720 |
Principal & interest only. Property tax, insurance, PMI and HOA are extra.
At 6.5% over 30 Years
| Loan Amount | $180,000 |
|---|---|
| Monthly Principal & Interest | $1,138 |
| Total Interest (30 yr) | $229,579 |
| Total of Payments | $409,579 |
First-Year Amortization (6.5%, 30 yr)
| Month | Principal | Interest | Balance |
|---|---|---|---|
| 1 | $163 | $975 | $179,837 |
| 2 | $164 | $974 | $179,674 |
| 3 | $164 | $973 | $179,509 |
| 4 | $165 | $972 | $179,344 |
| 5 | $166 | $971 | $179,178 |
| 6 | $167 | $971 | $179,010 |
| 7 | $168 | $970 | $178,842 |
| 8 | $169 | $969 | $178,673 |
| 9 | $170 | $968 | $178,503 |
| 10 | $171 | $967 | $178,333 |
| 11 | $172 | $966 | $178,161 |
| 12 | $173 | $965 | $177,988 |
Early payments are mostly interest; principal builds over time.
Last reviewed: November 2026
Data sources: Standard mortgage amortization formula; Principal & interest only — excludes taxes, insurance, PMI, HOA.
Disclaimer: Payment estimates are for principal and interest at the rates shown. Your actual payment depends on your rate, taxes, insurance and fees. Not financial advice.